The footwear market - Italy

Globally, the footwear market is clearly growing mainly due to the fact that trends in the apparel industry tend to be more transient and faster. The compound annual growth rate (CAGR) of the global footwear market between the years 2021-2027 is expected to be 5.88 percent As for Italy, this is the leading footwear producing country in the European Union, the eighth country in terms of exports, and the third country in terms of overall market turnover. The Italian footwear system is one of the fundamental pillars of the country's manufacturing sector and has as many as 4,100 companies and 72,000 employees (2020 figures). Due to the pandemic, the footwear market, like the entire fashion industry, has experienced a drop in consumption (-30 percent compared to 2019) and consequently a big loss in turnover. Despite this negative data, the growth forecast for the coming years is positive thanks to the long Italian tradition of Made in Italy and the large numbers in terms of exports that have always distinguished the market. Some of the largest and most competitive companies in the Italian market, also known internationally, are: Gucci, Prada, Geox, Salvatore Ferragamo, Tod's and Dolce & Gabbana.